Did Keppel's independent directors do their jobs?

The recent articles on the Keppel Offshore & Marine (Keppel O & M) corruption probe by associate editor Vikram Khanna and correspondent Grace Leong were very insightful (The scandal that ensnared Keppel, Jan 10; and To not bribe and yet bag deals is a challenge, Jan 7).

Keppel O & M earned more than $350 million from business corruptly obtained in Brazil.

I wonder if its independent directors ever asked the board of Keppel Corp if there was any greasing or impropriety involved.

If no one had asked that question, I think it is high time that the board resigns and its members are replaced.

There is no point in a company saying that it has checks and balances in place when nothing was done.

The role of the independent directors involves maintaining corporate credibility and ensuring good governance, including the disclosure of related party transactions.

This has obviously failed.

Ramoo Puru

A version of this article appeared in the print edition of The Straits Times on January 13, 2018, with the headline 'Did Keppel's independent directors do their jobs?'. Print Edition | Subscribe